Transcript of the above video:

As the title of this video suggests, we are discussing VAT on certain offshore businesses doing business here in Thailand.

A recent article from the Bangkok Post, that is bangkokpost.com, the article is titled: Foreign Websites to pay VAT. Quoting directly: "Around 20 large overseas online platforms plan to register as Value Added Tax payers in Thailand." Quoting further: "The move comes in response to enforcement of the e-service tax law from September 1 when overseas businesses providing online services in Thailand will be required to register for 7% VAT liability if their annual income exceeds 1.8 million Baht." That 1.8 million Baht figure is notable because any business in Thailand has to start dealing with VAT if their revenue goes above that number. Now it looks like any business that is having any kind of Nexus of Commerce if you will in Thailand will also start having to deal with VAT if they are bringing in over 1.8 million Baht in revenue. 

How exactly this is going to play out remains to be seen. I think there is going to be a lot of factual analysis associated with tax liability in Thailand moving forward as each case is going to be hinged on the specific facts in that case as to whether or not there is any VAT liability. Again, it is going to be very dependent on the specifics of a case so we will keep you updated on this channel as the situation progresses.